Stocks In the News: Check out the companies making the biggest headlines before the opening bell.
Results on October 13: Infosys, Wipro, Mindtree, Advik Laboratories, Aditya Birla Money, Morarka Finance, National Standard, Perfect-Octave Media Projects, Plastiblends India, Raghav Productivity Enhancers, SDC Techmedia, Sanathnagar Enterprises, Stratmont Industries, and Unistar Multimedia will release quarterly earnings on October 13.
Reliance Industries: Subsidiary Reliance New Energy Solar (RNESL) and Denmark-based Stiesdal A/S signed a cooperation agreement for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India. Separately, NexWafe GmbH announced the induction of RNESL as a strategic lead investor in its 39 million ($ 45 million) euro Series C financing round with an investment of 25 million euro in phase one. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Tata Motors: The private equity firm TPG Group to invest Rs 7,500 crore in its new wholly-owned electric vehicle subsidiary. The investment would be made in tranches, over a period of 18 months from the date of completion of the first tranche.
Jain Irrigation Systems: Employees Retirement System of Texas – Self Managed Portfolio acquired 25,57,922 equity shares in the company at Rs 49.63 per share on the NSE, the bulk deals data showed.
Orient Paper & Industries: L7 Hitech acquired 21 lakh equity shares in the company at Rs 32.53 per share on the NSE, the bulk deals data showed.
Zee Entertainment Enterprises | The comapny said an “offer” was presented to them by largest shareholder group – Invesco Developing Market Funds – back in February 2021 to merge the company with entities linked to a large Indian group.
IndusInd Bank: The bank has been authorised by RBI to collect Direct and Indirect Taxes on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).
Puravankara: Subsidiary Provident Housing proposed to launch its area sharing premium affordable housing development ‘Provident Palm Vista’ in Mumbai having a total saleable area of about 1.0 million square feet. Another subsidiary T-Hills proposed to launch its plotted development project ‘Tivoli Hills’ in Bangalore having a total saleable plot area of about 1.4 million square feet.
Kreon Finnancial Services: The company on October 18 will consider the proposal for raising of funds by way of issuance of equity shares as right issue to the existing shareholders.
Bhansali Engineering Polymers: The company approved the Brown Field ABS expansion project at existing plants i.e. Abu Road (Rajasthan) & Satnoor (Madhya Pradesh) for enhancing overall ABS production capacity to 2,00,000 tonnes per annum with approximately capex of Rs 500 crore, to be funded through reserves and surplus which shall be implemented tentatively by December 2024.
Vipul: The company has signed and entered a joint venture agreement with Tulip Infratech, for assigning of all development rights to carry out all developments activities in relation to residential project namely ‘Aarohan Residences’ at Golf Course Road, Haryana.
Centrum Capital: The Reserve Bank of India issued licence to Unity Small Finance Bank, a step-down subsidiary of the company, to carry on small finance bank business.
Choice International: The company acquired mutual fund distribution business of Centcart Money Services by company’s step-down subsidiary Choice Wealth.
Zodiac Clothing: CARE assigned the long term rating of BB+; positive for Rs 54 crore line of credit of the company.
Bajaj Finserv: Trustee company under the name of Bajaj Finserv Mutual Fund Trustee Limited has been incorporated as a wholly owned subsidiary of the company.
Happiest Minds Technologies: The company entered into partnership with Tech4TH Solutions, a company incorporated in the USA.
Precision Wires India: The company on November 3 will consider the proposal for sub-division of shares.
Rakesh Patil
